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LONDON
(BUSINESS WIRE) -- Hardening reinsurance market conditions in the Middle East and North Africa region, as well as changes in reinsurers’ appetites as to where they deploy their capital, have sustained the positive price momentum over recent renewal seasons, according to an AM Best report.

The Best’s Market Segment Report, “Opportunities Arise for MENA Reinsurers Amid Divergent Economic Conditions,” notes that reinsurance capacity in the region continues to be highly changeable and dynamic against a backdrop of divergent economic conditions across the region for oil-exporting and oil-importing countries.

AM Best analysts also state that operational challenges and deteriorating country risk landscapes in several countries in the region have weighed negatively on their view of the financial strength of the reinsurers domiciled and operating in these countries. While several companies have experienced Long-Term Issuer Credit Rating do ... Read more »

Views: 79 | Added by: africa-live | Date: 10.18.2022 | Comments (0)

Leather is proving its staying power. According to an industry report, leather goods are estimated to grow from a 2021 figure of USD 419.5 billion to USD 720.8 billion in 2030. As an alternative lender, Tradewind Finance is heeding this trend and supporting growth in the industry by increasing their facility lines when needed.

One of Tradewind Finance’s clients, a leather handbag and accessories manufacturer from Kolkata, India, was experiencing this growth momentum first-hand. As the manufacturer’s orders increased, Tradewind Finance scaled up the facility line from an original funding amount of USD 1,350,000 to its current amount of USD 2,400,000.  With the upgraded facility, the manufacturer was able to meet the new demands of the business that came with the rise in sales.

“Tradewind partners with manufacturers and exporters throughout India who specialize in products like consumer goods, textiles and chemicals. In addition to Tradewind&rsqu ... Read more »

Views: 53 | Added by: africa-live | Date: 10.18.2022 | Comments (0)

NORTH BETHESDA, Md. - Monday, 17. October 2022

(BUSINESS WIRE) -- ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a world leader in fabrication and gas control technology, announced today that it has acquired Ohio Medical, LLC (“Ohio Medical”), a global leader in oxygen regulators and central gas systems, from a private investor group for a cash purchase price of $127 million. The Company also expects an additional cash tax benefit with a net present value of $15 million. During the twelve months ended August 31, 2022, Ohio Medical generated over $45 million of sales, gross margins above 40%, and adjusted EBITDA margins greater than 20%. The acquisition is expected to be adjusted EPS accretive to ESAB in the first year. The Company financed the acquisition using cash on hand and expects its net leverage ratio to be less than 3x at the end of 2022. ESAB will provide additional information during its earnings call on Thursday, Novem ... Read more »

Views: 65 | Added by: africanewsline | Date: 10.18.2022 | Comments (0)

JOHANNESBURG & PORT LOUIS, Mauritius - Monday, 17. October 2022

(BUSINESS WIRE) -- Kasada, the leading independent real estate private equity platform dedicated to hospitality in sub-Saharan Africa, announced today that it has acquired one of the most popular seaside resorts in Senegal: The Lamantin Beach Resort & Spa. This is Kasada’s 4th property in Senegal following the acquisition of the Pullman, Novotel and Ibis Dakar in January 2021.

The asset is located along the Petite Côte, in Saly, a prominent leisure hub that attracts international and local visitors alike. It features 166 keys, meeting rooms, 2 swimming pools, a spa & wellness area, a water sports centre, and is one of the only hotels with direct access to the beach.

Upcoming renovations to this 166-key beach resort will enhance guest experience and ensure leading environmental and social governance practices.

Olivier Granet and David Damiba, Kasada’s Managing Partn ... Read more »

Views: 73 | Added by: africanewsline | Date: 10.18.2022 | Comments (0)

Abu Dhabi, United Arab Emirates - Monday, 17. October 2022 
Race to the center of the F1® Abu Dhabi Grand Prix 2022 action from November 17 to 20 by booking unmissable room packages at Yas Plaza Hotels. Home to top hospitality brands including Radisson Blu Yas Island, Crowne Plaza Yas Island, Centro Yas Island, Yas Island Rotana, Park Inn by Radisson Yas Island, and Staybridge Suites Abu Dhabi - with 1,760 room keys, 21 award-winning restaurants and bars, and 25 meetings and events facilities, Yas Plaza Hotels is set to host fun, fast-paced and futuristic hospitality, F&B and entertainment offerings to fuel up guests’ F1® experience.

The cluster that includes all hotels, restaurants, and the hub for activations, the Central Plaza, has hosted over 60,000 F1® fans in the past demonstrating its readiness to meet the demands of discerning guests from different parts of the world - all wanting to celebrate the best of this highly-anticipated sport ... Read more »

Views: 81 | Added by: africa-live | Date: 10.18.2022 | Comments (0)

(BUSINESS WIRE)--Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q2 FY23 results today.

In US Dollars:

Revenue at USD 601.0 million; growth of 3.6% QoQ and 18.1% YoY
Constant Currency Revenue growth of 4.6% QoQ and 21.6% YoY
In Indian Rupees:

Revenue at INR 48,367 million; growth of 6.9% QoQ and 28.4% YoY
Net Income at INR 6,798 million; growth of 7.2% QoQ and 23.2% YoY
“We are happy to report 21.6% YoY revenue growth in constant currency. We remain excited about the proactive conversations we are having with our customers and see increased traction in the cloud and analytics space. The strength of our pipeline and our sustained net headcount addition will continue to fuel our growth”
- Sudhir Chaturvedi, President Sales & Executive Board Member
 
 
“We are happy to be on the last leg of the app ... Read more »

Views: 64 | Added by: africa-live | Date: 10.18.2022 | Comments (0)

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